PPIO 派欧云
China's largest independent AI cloud, now filing for a Hong Kong IPO
Overview
PPIO (派欧云) is a Chinese distributed-cloud provider selling cheap, OpenAI-compatible inference APIs for DeepSeek, Qwen, GLM and other open models alongside pay-as-you-go GPU rental, built by the team that previously ran PPTV's peer-assisted streaming network.
What you can produce with PPIO 派欧云
- OpenAI-compatible inference API for DeepSeek, Qwen, GLM and other open models
- Pay-as-you-go GPU container rental (RTX 4090 and others)
- Serverless GPU billing with on-demand and spot pricing
- Distributed edge-compute network (4,600+ nodes across 1,340+ cities)
- Image, video and text-to-speech generation endpoints
- Free trial credits for new signups
- Framework integrations (Dify, RAGFlow, LobeChat)
ASEAN Perspective
PPIO 派欧云 in Southeast Asia
ASEAN-region availability and pricing notes coming soon. Drop the editorial team a note via /contact/ if you can supply local context (Singapore/Malaysia/Indonesia/Thailand/Vietnam).
PPIO's founders built PPTV's peer-to-peer video delivery network before selling it to Suning, and PPIO reuses that same distributed-infrastructure playbook for AI: a network of 4,600-plus compute nodes across 1,340-plus cities rather than a handful of hyperscale data centers. That translates into some of the cheapest DeepSeek and Qwen API pricing on the market and RTX 4090 rental from under ¥1.20/hour, which is why PPIO says its daily token throughput passed a trillion tokens by April 2026.
The company is burning cash to get there — roughly ¥568 million in cumulative losses over three years, per its own IPO filing — and it competes directly with Gitee AI, SiliconFlow and half a dozen others selling the same open models at similar prices. It has filed for a Hong Kong listing twice (June 2025, then again June 2026) without pricing yet. Fine for cost-sensitive inference; nothing here that isn't available elsewhere.
What people say
PPIO was founded in 2018 by Yao Xin, who previously built and sold PPTV's peer-to-peer streaming network to Suning, alongside former PPTV chief architect Wang Wenyuan. The company spent its first several years as a general-purpose distributed cloud provider before pivoting hard into AI compute in 2023 once GPU and inference demand took off — a pivot that's now most of the growth story being sold to investors.
The numbers in its Hong Kong IPO filings are the most concrete public data available: AI cloud revenue jumped from roughly RMB 10.4 million in 2024 to RMB 119 million in 2025, over 10x growth, though that's still only about 15.5% of total revenue. By April 2026 PPIO reported average daily token consumption above 1,028 billion tokens and more than 574,000 registered developers on its AI cloud service, with a compute network spanning 4,600-plus nodes across 1,340-plus counties and cities. The filing also discloses roughly RMB 568 million in cumulative losses over three years, standard for an infrastructure land-grab but worth knowing before treating PPIO as a guaranteed-stable long-term vendor.
On product mechanics: PPIO offers an OpenAI-compatible endpoint for DeepSeek V4 Flash/Pro, Qwen3, GLM 5.2 and other open models, priced per million tokens (DeepSeek V4 Flash runs about ¥1/Mt input, ¥2/Mt output — genuinely cheap by global standards), plus separate GPU container rental (RTX 4090 from around ¥1.16-1.19/card-hour, spot pricing near ¥0.99) and serverless GPU billing with on-demand or spot rates. It was among the earlier platforms to host DeepSeek's full model lineup when DeepSeek went viral, which is the main thing PPIO gets namechecked for in Chinese developer communities and in integration guides for tools like Dify, RAGFlow and LobeChat.
There's no meaningful independent review base — G2, Trustpilot, Reddit — outside China-specific coverage; this is infrastructure evaluated by developers on latency and price rather than reviewed on consumer platforms. Two things worth flagging for anyone evaluating it seriously: it filed for a Hong Kong IPO in June 2025, let that filing lapse, and refiled in June 2026 with ICBC International and Soochow Securities as joint sponsors, so ownership and listing status remain unsettled; and like its Chinese-inference-platform peers, it states no specific Southeast Asia data residency, so latency and compliance for regional deployments would need direct testing rather than assumption.
Summary of public user & expert reviews, compiled by RECATOOLS.
About this listing
This entry was compiled from publicly available data including PPIO 派欧云's official website, press releases, documentation, and reputable third-party publications. RECATOOLS is not affiliated with PPIO 派欧云 unless explicitly stated.
Third-party AI tools update their pricing, features, availability, and policies frequently. Information here may be outdated by the time you read this — we make reasonable efforts to keep listings current, but cannot guarantee absolute accuracy.
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